Financial accounting principles shape the recording of nearly every business transaction in the business world. The creation of these principles is no small task and can sometimes seem nearly ...

Discover what accounting changes are, how they affect financial statements, and why full disclosure is essential for ...

Accounting and financial professionals must abide by ethical standards that regulate what kind of business they conduct, who they serve and how they use their skills. Ethical standards are determined ...

Discover how the Accounting Principles Board (APB) set foundational accounting standards and influenced today's GAAP under the FASB in the financial reporting world.

Like others, we've watched a slowly developing controversy over the question of whether accounting standards should be "principles-based" or "rules-based." When Sarbanes-Oxley was passed, it required ...

If you run a small business, you may not know much about the Generally Accepted Accounting Principles (GAAP). After all, GAAP standards apply mainly to publicly traded companies, so these rules don’t ...

Financial accounting is the process of recording and reporting your business’s income, expenses, assets and liabilities, often with the help of software. This information gives managers, owners and ...

Understanding these concepts can help you make smarter financial decisions in the long run and day to day. Many, or all, of the products featured on this page are from our advertising partners who ...

Maintaining a general ledger helps you gauge a business's financial health and avoid accounting mistakes. Learn what a ...

Knowing GAAP will help you understand your accountant's decision-making process better. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...

What Are Generally Accepted Accounting Principles (GAAP)? Your email has been sent Understanding GAAP is essential for anyone involved in finance or accounting. Learn the key principles and their ...